Powell Industries (NASDAQ:POWL) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of Powell Industries (NASDAQ:POWL) from a strong sell rating to a sell rating in a report published on Saturday, BidAskClub reports.

Shares of NASDAQ:POWL opened at $40.86 on Friday. The company has a market cap of $451.68 million, a P/E ratio of 83.08 and a beta of 1.26. The stock’s 50-day moving average is $37.10 and its 200-day moving average is $34.22. Powell Industries has a 52-week low of $22.55 and a 52-week high of $40.96.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, August 6th. The industrial products company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.24. Powell Industries had a net margin of 0.97% and a return on equity of 1.87%. The business had revenue of $135.60 million during the quarter, compared to analysts’ expectations of $132.31 million. During the same quarter last year, the company earned $0.03 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Tuesday, August 20th.

In related news, Director Bonnie V. Hancock sold 2,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $37.89, for a total value of $75,780.00. Following the completion of the sale, the director now owns 17,300 shares in the company, valued at $655,497. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 23.90% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in POWL. BNP Paribas Arbitrage SA lifted its stake in shares of Powell Industries by 346.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,851 shares of the industrial products company’s stock valued at $49,000 after buying an additional 1,436 shares during the period. Bank of Montreal Can lifted its stake in shares of Powell Industries by 45.2% in the second quarter. Bank of Montreal Can now owns 2,411 shares of the industrial products company’s stock valued at $92,000 after buying an additional 750 shares during the period. KBC Group NV bought a new stake in shares of Powell Industries in the second quarter valued at about $106,000. Aperio Group LLC bought a new stake in shares of Powell Industries in the second quarter valued at about $134,000. Finally, SG Americas Securities LLC bought a new stake in shares of Powell Industries in the first quarter valued at about $165,000. Institutional investors and hedge funds own 65.06% of the company’s stock.

Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.

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